The Amalgamation of Allahabad Bank into Indian Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Allahabad Bank into Indian Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020. Consequently, all branches of Allahabad Bank will ...

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The Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Andhra Bank and Corporation Bank into Union Bank of India in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the Banking Companies (Acquisition and Tran...

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The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and section 9 of the B...

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The Amalgamation of Syndicate Bank into Canara Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India was published under Extraordinary Part II-Section 3-Sub-section (i) in the Gazette of India sanctioning the Amalgamation of Syndicate Bank into Canara Bank in terms of section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970). The scheme comes into force on the 1st day of April 2020. Consequently, all branches of Syndicate Bank will ...

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RBI/2019-20/196 DOR.NBD.No.44/16.13.218/2019-20 March 28, 2020 Managing Director and Chief Executive Officers of Small Finance Banks Madam / Dear Sir, ‘Guidelines for Licensing of Small Finance Banks in Private Sector’ dated November 27, 2014 – Modifications to existing norms Please refer to the ‘Guidelines for Licensing of Small Finance Banks in Private Sector’ ...

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RBI/2019-20/194 DGBA.GBD.No.1799/42.01.029/2019-20 March 27, 2020 All Agency Banks Dear Sir / Madam Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2019-20) All government transactions done by agency banks for Financial Year 2019-20 must be accounted for within the same financial year. Taking into acco...

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RBI/2019-20/193 A.P. (DIR Series) Circular No.23 March 27, 2020 All Authorised Dealer Category-I Banks Madam / Sir, Risk Management and Inter-bank Dealings- Participation of Banks in Offshore Non-deliverable Rupee Derivative Markets Attention is invited to the Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000 (Notification no. FEMA.25/RB-2000 dated May 3, 2000), as amended from time to time, andMaster Direction- Risk Management and Inter-bank D...

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RBI/2019-20/192 DOR.No.Ret.BC.51/12.01.001/2019-20 March 27, 2020 All Scheduled Banks Dear Sir/Madam Section 42(1) of the Reserve Bank of India Act, 1934 - Change in Daily Minimum Cash Reserve Maintenance Requirement Please refer to ourCircular DBR.No.Ret.BC.91/12.01.001/2015-16 dated April 05, 2016on the captioned subject. 2. As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20, March 27, 2020, it has been decided to reduce the minimum daily maintenance of...

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RBI/2019-20/191 DOR.No.Ret.BC.49/12.01.001/2019-20 March 27, 2020 All Banks Dear Sir / Madam Maintenance of Cash Reserve Ratio (CRR) Please refer to ourCircular DBOD.No.Ret.BC.76/12.01.001/2012-13 dated January 29, 2013and Circular RPCD.CO.RCB.RRB.BC.No.61/03.05.33/2012-13 dated January 29, 2013 on the captioned subject. 2. As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20, March 27, 2020, it has been decided to reduce the Cash Reserve Ratio (CRR) of all...

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RBI/2019-20/190 DOR.No.Ret.BC.53/12.01.001/2019-20 March 27, 2020 All Scheduled and Non Scheduled Banks Dear Sir/Madam Change in Bank Rate Please refer to our circularDBR.No.Ret.BC.19/12.01.001/2019-20 dated October 04, 2019, on the captioned subject. 2. As announced in theSeventh Bi-Monthly Monetary Policy Statement 2019-20 of March 27, 2020, the Bank Rate is revised downwards by 75 basis points from 5.40 per cent to 4.65 per cent with immediate effect. 3. All penal intere...

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RBI/2019-20/189 DOR.No.Ret.BC.52/12.01.001/2019-20 March 27, 2020 All Scheduled Banks (excluding Regional Rural Banks) Dear Sir / Madam Section 24 of the Banking Regulation Act, 1949 – Maintenance of Statutory Liquidity Ratio (SLR) – Marginal Standing Facility (MSF) Please refer to ourCircular DBOD.No.Ret.BC.95/12.02.001/2011-12 dated April 17, 2012,Circular UBD.BPD.(SCB).Cir.No.1/16.27....

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RBI/2019-20/188 DOR.BP.BC.No.45/21.06.201/2019-20 March 27, 2020 All Scheduled Commercial Banks (Excluding RRBs and LABs) Dear Sir/Madam, Basel III Capital Regulations - Review of transitional arrangements As announced in para 9 of theStatement on Developmental and Regulatory Policiesissued along with theSeventh Bi-monthly Monetary Policy Statement 2019-20, the implementation of the last tranche of ...

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RBI/2019-20/187 DOR.BP.BC.No.46/21.04.098/2019-20 March 27, 2020 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Basel III Framework on Liquidity Standards – Net Stable Funding Ratio (NSFR) Please refer to paragraph 8 ofStatement on Developmental and Regulatory Policies of Seventh Bi-monthly Monetary Policy Statement, 2019-20 dated March 27, 2020and ourcircular DB...

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RBI/2019-20/186 DOR.No.BP.BC.47/21.04.048/2019-20 March 27, 2020 All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks/ District Central Co-operative Banks All All-India Financial Institutions All Non-Banking Finance Companies (including Housing Finance Companies) Madam/Dear Sir, COVID-19 – Regulatory Package Please refer to theStatement of Development and Regulatory...

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RBI/2019-20/185 FMRD.FMID.No.24/11.01.007/2019-20 March 27, 2020 To All eligible market participants Dear Sir/Madam, Legal Entity Identifier: Extension of deadline A reference is invited to circularFMRD.FMID.No.10/11.01.007/2018-19 dated November 29, 2018issued by Reserve Bank of India on requirement of Legal Entity Identifier (LEI) for participation in non-derivative markets. Reference is also invited to circularFMRD.FMID.No.15/11.01.007/2018-19 dated April 26, 2019on revised t...

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RBI/2019-20/184 REF.No.MPD.BC.390/07.01.279/2019-20 March 27, 2020 All Primary Dealers, Standing Liquidity Facility for Primary Dealers In theSeventh Bi-monthly Monetary Policy Statement 2019-20of the Monetary Policy Committee (MPC) of March 27, 2020, the policy repo rate under the Liquidity Adjustment Facility (LAF) has been reduced by 75 basis points to 4.40 per cent from 5.15 per cent with immediate effect. 2. Accordingly, the Standing Liquidity Facility provided to Primary D...

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RBI/2019-2020/183 FMOD.MAOG.No.139/01.18.001/2019-20 March 27, 2020 All Marginal Standing Facility (MSF) participants Madam/Sir, Marginal Standing Facility As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 75 basis points from 5.15 per cent to4.40 per centwith immediate effect. 2. Consequently, the Marginal Stan...

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RBI/2019-2020/182 FMOD.MAOG.No.140/01.01.001/2019-20 March 27, 2020 All Liquidity Adjustment Facility (LAF) participants Madam/Sir, Liquidity Adjustment Facility – Repo and Reverse Repo Rates As announced in theSeventh Bi-monthly Monetary Policy Statement, 2019-20,today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy Repo rate under the Liquidity Adjustment Fac...

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Department's Letter of even number, dated 10-02-2012 regarding the above subject (copy enclosed for ready reference) is hereby withdrawn. As per earlier order, Banks has to complete the Statutory Audit of Annual Accounts by 15th May. This has been withdrawn Now. NowDue Dates postponed and will be as per SEBI timeline (which has relaxed by a month) ...

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S.O.- In the order of the Government of India in the Ministry of Corporate Alfairs number S.O. S49(E), dated the 25ft February,2O2O, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 25tn February, 2O2O, in paragraph "2. Auditor's report to contain matters specified in paragraphs 3 and 4", for the words and figures "1"t April, 2019", the words and figures ul"t April, 2O2O" shall be substituted....

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In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to reduce their compliance burden and other risks: -...

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G.S.R...(E).- In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby specifies that the return in FORM GSTR-3B of the said rules for each of the months from April, 2020 ...

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G.S.R......(E). - In exercise of the powers conferred by the second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby extends the time limit for furnishing the details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, by such class of registered persons having agg...

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G.S.R......(E).— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby notifies the registered persons having aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year, as the class of registered persons who shall follow the special procedure as mentioned...

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G.S.R.....(E).–In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.29/2019 – Cen...

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G.S.R.....(E).–In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council, hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.44/2019 – Cen...

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G.S.R.....(E).–In exercise of the powers conferred by second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.28/2019 – Central Tax, dated the 28th Jun...

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G.S.R.....(E).–In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby makes the following amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 27/2019 – Central Tax, dated the 28th June, 2019, published in the Gazette of India, Extraordinary, ...

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G.S.R.....(E).–In exercise of the powers conferred by second proviso to sub-section (1) of section 37 read with section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Commissioner, on the recommendations of the Council, hereby makes the following further amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No.46/2019 – Central Tax, dated the 9th Octo...

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G.S.R.....(E).–In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Central Government, on the recommendations of the Council, hereby makes the following amendment in notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 45/2019 – Central Tax, dated the 09th October, 2019, published in the Gazette of India, Extraordinar...

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